One of Scotland’s most prominent industrial buildings has recently been acquired in an ‘off market’ transaction by Aberdeen-based developer and investor, Knight Property Group.
Extending to 143,700 sq ft, together with a fully sprinklered mezzanine floor of approximately 85,000 sq ft, the property offers a significant opportunity for occupiers seeking high-quality e-commerce, logistics or clothing distribution space.
The building occupies a prominent six-acre site within Bellshill Industrial Estate, North Lanarkshire and benefits from a strategic location with immediate access to Scotland’s key transport networks.
Known as The Big Blue Shed, the detached warehouse and industrial facility will shortly be rebranded. The property offers a clear internal height of between 8.5 and 10 metres and benefits from five dock-loading bays, four ground-level loading doors, a fully sprinklered warehouse and approximately 3,900 sq ft of office accommodation.
Knight Property Group is set to undertake a comprehensive refurbishment programme to reposition the property to meet the expectations of modern occupiers. The works will include extensive upgrades to the external walls, roof and wall cladding. There will also be improvements to the external concrete yards and surfacing, full internal redecoration, along with the refurbishment of the office and welfare facilities. The refurbishment is scheduled for completion in Q4 this year.
Howard Crawshaw, Managing Director of Knight Property Group, said:
“Having successfully delivered several speculative new build developments and refurbishment projects across this area, we are proud to continue investing in Lanarkshire’s business landscape with the acquisition of this landmark building.
“With continued demand for premium logistics and warehouse space, combined with a limited supply of high-quality accommodation, this property represents an excellent opportunity for businesses looking to establish or expand their presence in Central Scotland.
“We anticipate strong interest from occupiers seeking immediate access to well-connected industrial space, particularly given the shorter delivery times associated with refurbishment compared with new-build development.”
Graham + Sibbald and Ryden have been appointed as letting agents on behalf of Knight Property Group.